Nifty Sustains Above 8150 Levels

Post Market Commentary:

In today's trading session the Nifty opened with red mark and hit a day's low in early trading sessions but Nifty was not able to sustain at lower levels and moved higher testing 8182 levels. The whole day the Nifty traded in range bound area wherein the lower levels was 8137 and higher was 8184. Finally, the Nifty gained 24.50 points positive and closed at 8177.40. In today's trading session we have noticed that Nifty has successfully sustained above 8150 levels and we hope that in forthcoming trading session we may see Nifty test the 8300 levels. 
 
The market breadth for the Nifty turned from neutral to positive in today’s trading session, where the advance decline ratio ended on the positive  side. 29 stocks closed with green mark whereas, and 21 stocks closed in red.

Top Nifty Gainers: HINDALCO was top gainer gain with 5.74% followed by VEDL, CAIRN, ONGC and TATASTEEL

Top 5 Nifty Losers: HCLTECH was the top loser with loss of 3.16% followed by WIPRO, TCS, BHARTIARTL and AXISBANK.

In today’s trading session all sectors closed with green mark and CNX Metal sector was the top gainer gain with 3.25% whereas CNX IT was top loser lose with 1.74%. 

The Asian markets quoted in green; China's Shanghai Composite was closed today, Hong Kong's Hang-Seng up by 3.04% , while Japan's Nikkei was up by 0.75%.

The European market is trading in red mark,while London's FTSE 100 index was up by 0.40%, the German DAX up by 0.99% and the French CAC was up by 0.61%. 

Derivative Analysis:

The Nifty October futures open interest has increased by 7.33%. Bank Nifty October futures open interest has decline by 4.83%. Nifty market closed at 8,177.40 levels & Bank Nifty closed at 17,616.80 levels.

The Nifty October future closed at a premium of 22.1 point.
 
The November series closed at a premium of 62.1 points.

The Implied Volatility of at the money options has increases by 0.16%.  

Nifty PCR-OI has sustain at 1.26 levels.

Interpretation: On the basis of above data,its observed that 8000 may act as strong Support & 8300 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.